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​Prince Sultan University was originally founded in 1999 as Prince Sultan Private College, but, in 2003, the Ministry of Higher Education declared it to be a university. It was inaugurated by HRH Crown Prince Sultan bin Abdul Aziz Al-Saud who was the Deputy Premier, Minister of Defense and Aviation, and Inspector-General. PSU is a non-profit institution established in Riyadh by Al-Riyadh Philanthropic Society for Science and licensed by the Ministry of Higher Education. PSU is the first private University in the Kingdom of Saudi Arabia.

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​​His Royal Highness Crown Prince Sultan bin Abdul Aziz Al-Saud who was the Deputy Premier, Minister of Defense and Aviation and Inspector-General, inaugurated Prince Sultan Private College on 17/8/1421 H​.